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BTL Mortgage questions
DesG
Posts: 1,291 Forumite
Hi,
I have a couple of questions on BTL.
As a first time Landlord with £25K+ income and own a residential property...
What is the maximum LTV can I achieve as a first time landlord? (assuming the 125% rule isn't an issue)
Are there any problems using a Ltd company as the owner/landlord?
And a semi-related question, if you purchase say 3 flats for £100,000 each in one transaction is there a stamp duty issue, based on the total cost of the transaction, or is it treated as 3 separate properties all under the threshold? On the HMRC site it isn't exactly clear.
Cheers, Des
I have a couple of questions on BTL.
As a first time Landlord with £25K+ income and own a residential property...
What is the maximum LTV can I achieve as a first time landlord? (assuming the 125% rule isn't an issue)
Are there any problems using a Ltd company as the owner/landlord?
And a semi-related question, if you purchase say 3 flats for £100,000 each in one transaction is there a stamp duty issue, based on the total cost of the transaction, or is it treated as 3 separate properties all under the threshold? On the HMRC site it isn't exactly clear.
Cheers, Des
0
Comments
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1. Around 75% - 80% LTV.
2. Few if any lenders will consider this now.
3. Separate transactions
With regards to the 125% rule. Lenders will use a notional interest rate not the product rate. So could be as high as 7% (currently).0 -
Thrugelmir wrote: »1. Around 75% - 80% LTV.
Excellent 75 or 80% is do-able.Thrugelmir wrote: »2. Few if any lenders will consider this now.
Even with a SPV? I don't have to do it that way, but it would be a preference. Personal guarantee not an issue.Thrugelmir wrote: »3. Separate transactions
Thanks, that makes the spreadsheet happy
Thrugelmir wrote: »With regards to the 125% rule. Lenders will use a notional interest rate not the product rate. So could be as high as 7% (currently).
Not an issue
Thanks for the help!
Cheers, Des.0 -
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